Real Estate Journal: Your Essential Daily Commercial Real Estate Briefing: September 3, 2024
Daniel Bagdazian
Commercial Leasing & Sales Specialist @ Radius Group | Ventura County, CA.
Good Afternoon!
Here's your 5 min daily newsletter on what matters in commercial real estate.
?? Top News
Industrial Absorption Set To Grow on Rate Drop Expectations Industrial net absorption for H2 is expected to reach approximately 114 million square feet.
Dollar General Shares Drop 25% Due to Struggling Customers Dollar General missed Wall Street’s expectations on both earnings and revenue as its lower-income customer base struggles financially.
Publix Buys Two Shopping Centers in South Florida for $83M Grocer Publix is back on the prowl, buying two retail centers — which its supermarkets anchor in Davie, Fla. — for a combined $82.9 million from PGIM Real Estate and Southeast Centers, property records show
Washington, D.C., Apartments Sell for $31.5Mln Tom Borger has paid $31.5 million, or $228,260/unit, for the 138-unit Corcoran House at Dupont Circle Apartments in Washington, D.C.
MPT Agrees To Run Bankrupt Steward Hospitals, Wipe Out Billions In Rent Medical Properties Trust?has agreed to take over the operations of several Steward Health Care hospitals it owns as part of a deal to allow the healthcare operator to?sell off its?holdings and exit Chapter 11 bankruptcy.
MBA Trims Projections on CRE Mortgage Volume Increases for 2024, 2025 Total commercial and multifamily mortgage borrowing and lending is expected to finish the year at $539 billion in 2024, a 26% increase from 2023’s total of $429 billion, according to an updated baseline forecast from the Mortgage Bankers Association (MBA)
Why a third of consumers shop at Costco Costco wouldn’t have it any other way
Rite Aid exits bankruptcy; names insider as new CEO Rite Aid has exited bankruptcy with a new CEO, ?a smaller store footprint and a lot less debt.
Airbnb pushes back on NYC rules Airbnb is hoping New York City officials will reconsider their year-old crackdown on short-term rentals.
A Mass Replacement Of Elevators Is Getting Underway Most New Yorkers don’t think twice about an elevator unless it's broken. But they?will be forced to consider them more as thousands are due to be replaced in the coming years